Home First India (HOMEFIRST) Q4 19/20 earnings summary

Executive summary

• FY20 AUM reached ₹3,618.36 crore, up 48.1% YoY; PAT rose 74.0% to ₹79.55 crore despite a challenging macro backdrop and COVID-19 disruption.

• Growth remained focused on affordable housing, portfolio quality and liquidity; pandemic response prioritized collections, tighter interim credit rules and cost control.

Financial highlights

• Total income was ₹419.67 crore, up 54.8% YoY; revenue from operations rose 53.3% to ₹398.66 crore, mainly on higher term-loan interest and gains on derecognized financial instruments.

• PBT increased 64.4% to ₹107.33 crore; PAT rose 74.0% to ₹79.55 crore, helped by higher loan book, operating efficiency and a lower tax rate.

• Operating expenses rose to ₹104.61 crore from ₹73.54 crore, reflecting branch expansion and employee growth; basic EPS was ₹10.81 vs ₹7.91.

Outlook and guidance

• FY21 priorities: protect asset quality through collections, build cash and funding pipeline, control costs, strengthen digital processes and resume growth selectively as markets reopen.

• June disbursements reached ~22% of pre-COVID levels; 80% of branches were operational, with steady collections and ALM supporting liquidity and recovery plans.

• Longer-term plans include expanding into more markets and investing in technology for machine-assisted underwriting and low-touch loan approval and fulfillment.